The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-03-09
PROMOTERS or COMHERCE
WILL THE COUNTY AID THE
MIDLAND RAILWAYi
The Coanty Court Somewhat In the
P0g-Right OF Way for the
Bald Knob.

II is not at all a foregone conclu sion
that the requested subscription of
$500, 600 to tho Midland railroad will
be granted. Besides, the surprising
strength Of the oppos ton among
business men, II Is eaid the members
Of the County Court are greatly d.
vided. This Is especially 30 with the
country magistrates, who are said TO
be almost solid against IL. Their
views coincide with those OF a num-
Der Of men approached on the subject
Monday, viz, that the enterprise
should be pushed through by the pro.
jeciore without the aid OF county sub
scriptieus. However, they are will
ing TO abide by the verdict Of the peo-
pie, and to that end are canvassing
the subject as thoroughly as possible
prior TO the special meeting OF court
on the 2lst inst.
Chairman Slaughter, when sp-
preached for an opinion on the sub
Jet, said: Ordinarily am opposed
TO appropriations on principle, bat In
this case am 10 favor OF the appr)-
priation being made. The bonds can
be placed at per cent. without
trouble, and the amount Of taxes paid
by the railroad company will exceed
the intere,t. Six per cent. on 5000 900
is $12, 900 per year, which will be the
outlay on the road. There will be
thirty miles OF road in this county as-
sessed at $4,000 per mile, aud the tax
on II will b, about 500 900. This
amount will pay the interest, and the
surplus can be put into sinking fund
TO take no the bonds when they are
matured."
Justice Cross wants the road, but Is
not in favor OF the subscription. "At
the fret blush" said Justice Gross, L
thought 1t would be a good scheme TO
let the people vote for or against the
appropriation, but l have since
thought the mat or over and believe
now that the appropriation will be
veted easily If the projectors OF the
railroad get q chance TO bid in the
floating and pure basable vote. II the
road will pay 1t will be built, ap.
preparation or no appropriation, and /
can't see why the county should SUBJ
scribe when II Is not necessary"
Justice John Barry believes the
road will be OF great benefit, not only
TO the county but to the State. He
also thinks that the owners are salts
fed that II will pay, and for the reason
the failure Of the county to aid In It's
construction will cut very small
figure. "The promise OF great revenue
from tar alton OF the roads property is
to oe taken guardedly," said he. "The
entire income OF the county from all
such sources AT present Is only little
over $4,000. Take the Louisville and
Nashville road, which has more miles
Of track, more rolling stock and real
estate in the county than any other,
and the taxes amount to only about
$4,000. The value Of railroad property
10 always reckoned high until II mes
10 assessments. The tex OF $4,000 on
the 5000, 0c0 of bonds asked by the
Midland would devour nearly all the
income from all the other roads at
present entering the city," OF course
the State would get handsome revenue
out OF II, but not the county. How
ever, the Justice would be glad to
have the road built.
The question is one in which every
taxpayer in the county Ia interested,
and n full and free discussion should
be had at once.